ATHENS, Ga. (AP) - The value of the University of Georgia Foundation's endowment reached an all-time high last month.
The Athens Banner-Herald reports (http://bit.ly/R0PD94 ) that the record $580 million bests the investment portfolio's previous record of $579 million. Joe Frierson, chairman of the foundation's investment committee says that record was set five years ago in October 2007.
The endowment includes a combination of stocks, bonds, hedge funds and other types of investments.
Frierson says growth was pretty flat for the 2012 fiscal year, but improved as the 2013 fiscal year began. He says that UGA fared well compared to many other universities.
The foundation is run by a volunteer board of trustees responsible for managing money and property thousands of donors give to UGA each year.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)